Binance CEO Describes Crypto Market Correction as a ‘Tactical Retreat’

The downturn in the digital asset market, triggered by macroeconomic risks, is temporary and unlikely to last long, according to Binance CEO Richard Teng.

Here’s my thoughts on the recent market turbulence: It’s important to view this as a tactical retreat, not a reversal.

Crypto has been here before and bounced back even stronger. Here’s why we should stay optimistic. ⤵️

A thread ?

— Richard Teng (@_RichardTeng) February 25, 2025

“It’s important to view this as a tactical retreat, not a reversal. This has happened before, and the rebound was even stronger. That’s why we should remain optimistic,” he wrote.

On February 25, Bitcoin fell below the $90,000 level after U.S. President Donald Trump confirmed the timely and scheduled imposition of 25% tariffs against Mexico and Canada. Nansen noted that concerns about the repercussions of actions against North American trade partners reduced investors’ risk appetite.

Another factor was the February weakening of the PMI in the U.S. services sector. The index indicated a slowdown in economic growth to 0.6% from 2.3% in the previous quarter. 

“History has shown that cryptocurrency markets react to macroeconomic changes just like traditional assets, but they recover with remarkable resilience,” Teng stated.

According to him, the main growth drivers of the industry remain unchanged. Among the positive signals, he cited institutional interest, strong inflows into ETFs, and the expansion of Binance’s user base.

“Market cycles come and go, but the fundamental indicators of cryptocurrency resilience are getting stronger,” Teng emphasized.

Earlier, Bitfinex experts described the current Bitcoin correction as a “critical moment.”